MoPNG notifies gas price ceiling for October 2023- March 2024 period

The Ministry of Petroleum and Natural Gas (MoPNG) has notified the gas price ceiling for gas produced from discoveries in deepwater, ultra deepwater and high pressure high temperature areas. The price ceiling for the period October 1, 2023 to March 31, 2024 is set at $9.96 per million British thermal units (mBtu) on a gross calorific value (GCV) basis. Besides, the MoPNG has notified the domestic natural gas price for the period October 1, 2023 to October 31, 2023 at $9.20 per mBtu on a GCV basis. However, for the gas produced by ONGC and Oil India Limited from their nomination fields, the administrative price mechanism price will impose a ceiling of $6.50 per mmBtu on a GCV basis for the same period.